THE IMPACT OF BENEFITS ON NET PAY
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SCENARIO
Your organization, located in Ontario, will be enhancing the group benefits plan offered to employees in two months by adding accidental death and dismemberment (AD&D) coverage and dental coverage. The organization will pay 50% of the cost of the AD&D premiums and 50% of the cost of the dental premiums, with the employees paying the other 50% of each premium. The Manager of Finance, Brian Stewart, has requested that you, as the Payroll Supervisor, prepare a communication for the employees, explaining how these new benefits will impact their net pay.
Prepare your response (200 – 350 words) using correct spelling, grammar and punctuation. You will be penalized if you are excessively over or under the suggested word count. Your response must be stated in your own words and should be based on the course material, your experiences, knowledge gained through the course and at least one external government resource.
Any responses taken directly from the external government resource or course material will not be accepted. Information referenced from the government resource(s) and the course material must be cited. For example:
· if you are referencing the Canada Revenue Agency’s Employers' Guide - Payroll Deductions and Remittances – T4001, state the URL where the information can be found,http://www.cra-arc.gc.ca/E/pub/tg/t4001/README.html and the page number, if applicable